Mr Yildiz is a former Labor councillor who quit the party this year to run as an independent in what is one of Labor's safest seats.
He has told police that Mr Blandthorn made threats to him and his wife outside an early voting centre in Coburg North on Friday.
Mr Yildiz would not comment on Tuesday,saying that the matter was in the hands of police,but previously published a lengthy Facebook post about the incident.
In the post it was alleged that Mr Blandthorn directed a throat-slitting gesture at Mr Yildiz’s wife,used abusive language and sought to goad Mr Yildiz into a physical fight.
A police spokesman said detectives from the Moreland crime investigation unit were"investigating a report of threats made against a man and a woman in Coburg North on Friday".
"The man allegedly made verbal threats towards the pair and then remained in the area for a period of time before leaving,"the police spokesman said.